A quite day of trading turned volatile in the afternoon resulting in the Nifty giving up all of it’s gains made at the open.
We anticipated the open up, booked our overnight longs from Friday and even took a short trade to the downside.
Afterall it was a Market profile 3 I- follow up day, one whioh plays out with an 85-95% probability rate as my fellow traders in the Trading room are discovering.
Have a look at the chart :
We spoke on Friday about a high being printed before 10.30 am.
Nothing magical, just pure observation and practical application of Market profile!
In the Bank Nifty, we were even more happier to book out longs from Friday at 10350, a sweet gain of 90 points for an overnight hold.
As Shai says, Market Profile is much more than knowing three values on a chart everyday.
If knowing VAL, VAH, POC has helped you, just imagine the difference it will make to your trading if you know how to employ the other practical concepts behind Market profile in trading everyday.
Join the Trading Room to find out !
